Saving money is a cornerstone of financial stability. With technology simplifying everyday tasks, automating your savings has become a powerful way to build wealth without much effort. I’ve explored various apps that help automate savings and will guide you through the top ten options, considering ease of use, features, and cost. By the end, you’ll have the tools to choose the right app for your goals.
Table of Contents
Why Automate Your Savings?
Automation ensures consistency. Instead of relying on willpower or remembering to move funds manually, these apps handle it for you. They allow you to:
- Save regularly without thinking about it.
- Budget effectively with clearer goals.
- Avoid the temptation to overspend.
How I Chose These Apps
I looked at apps based on their features, user experience, security, and costs. I focused on apps that cater to different needs—whether you’re just starting out, saving for a goal, or looking to invest.
Here’s my list of the top 10 apps to automate your savings:
1. Acorns
What It Does: Acorns rounds up your purchases to the nearest dollar and invests the spare change into diversified portfolios.
Key Features:
- Micro-investing: Automatically invest small amounts.
- Found Money: Partner brands deposit extra savings when you shop.
- Educational resources for beginner investors.
Pros:
- Ideal for new investors.
- Simple interface.
- Passive savings linked to everyday spending.
Cons:
- Monthly fees can outweigh gains for small balances.
Pricing: Starts at $3/month.
Who It’s For: Beginners who want to dip their toes into investing while saving.
2. Qapital
What It Does: Qapital helps you set custom savings rules tied to your spending habits.
Key Features:
- Rule-based savings: Save a fixed amount every time you make a specific purchase.
- Goal-oriented accounts.
- Integration with financial planning tools.
Pros:
- Highly customizable.
- Encourages mindful spending.
Cons:
- Requires some setup effort.
Pricing: Starts at $3/month for basic plans.
Who It’s For: Those who like creative, goal-focused saving.
3. Digit
What It Does: Digit analyzes your income and expenses, then saves small amounts that it determines you won’t miss.
Key Features:
- AI-based savings.
- Separate accounts for emergency funds, vacations, or other goals.
- Overdraft protection.
Pros:
- Hands-off saving.
- Adapts to your financial habits.
Cons:
- Monthly fee after a free trial.
- Some users may find it too passive.
Pricing: $5/month.
Who It’s For: Those who want effortless, hands-off saving.
4. Chime
What It Does: Chime rounds up your debit card purchases and transfers the difference into a savings account.
Key Features:
- No fees for overdrafts.
- Early direct deposit.
- High-yield savings accounts.
Pros:
- Easy to use.
- Helps build emergency savings.
Cons:
- Limited features compared to traditional banks.
Pricing: Free.
Who It’s For: People seeking a basic, no-frills way to save.
5. YNAB (You Need A Budget)
What It Does: YNAB focuses on budgeting to help you allocate savings proactively.
Key Features:
- Comprehensive budgeting tools.
- Real-time account syncing.
- Detailed financial reports.
Pros:
- Helps you save by reducing wasteful spending.
- Strong community support.
Cons:
- Steeper learning curve.
- Relatively high cost.
Pricing: $14.99/month or $98.99/year.
Who It’s For: Budget enthusiasts who want to master their finances.
6. Simple
What It Does: Simple combines banking and budgeting, helping you save as you spend.
Key Features:
- Goal-based saving tools.
- Spending tracking.
- FDIC-insured accounts.
Pros:
- Transparent fees.
- Encourages saving while managing spending.
Cons:
- Limited to U.S. users.
Pricing: Free.
Who It’s For: People who prefer all-in-one banking and saving.
7. Albert
What It Does: Albert analyzes your spending to find extra cash for savings and offers a high-yield savings account.
Key Features:
- Automatic savings suggestions.
- Cash advances without fees.
- Access to financial experts.
Pros:
- Personalized insights.
- Encourages proactive financial decisions.
Cons:
- Some features are behind a paywall.
Pricing: Free basic plan; Genius costs $8/month.
Who It’s For: Those who want a mix of automation and expert advice.
8. Trim
What It Does: Trim analyzes your spending and helps cancel unused subscriptions while saving the difference.
Key Features:
- Subscription monitoring.
- Negotiation of bills on your behalf.
- Automated savings account.
Pros:
- Saves money by cutting unnecessary expenses.
- Easy to use.
Cons:
- Savings depend on identifying unused subscriptions.
Pricing: Free, but charges for certain services.
Who It’s For: People with multiple subscriptions who want to save passively.
9. PocketGuard
What It Does: PocketGuard tracks your expenses and shows how much “free” money you have for savings.
Key Features:
- Real-time expense tracking.
- Savings suggestions.
- Integration with multiple bank accounts.
Pros:
- Helps avoid overspending.
- Encourages mindful saving.
Cons:
- Limited goal-setting options.
Pricing: Free basic plan; premium costs $4.99/month.
Who It’s For: People who need help managing cash flow.
10. Round
What It Does: Round invests your spare change into curated investment portfolios.
Key Features:
- Automated investing with professional guidance.
- Diverse portfolio options.
- Focus on socially responsible investing.
Pros:
- Easy investment management.
- High-quality advice.
Cons:
- Fees can be higher than competitors.
Pricing: Fees vary based on investment amounts.
Who It’s For: Investors seeking automated solutions with ethical considerations.
Comparison Table
| App | Best For | Pricing | Key Feature |
|---|---|---|---|
| Acorns | Beginners | $3/month | Micro-investing |
| Qapital | Goal-based savers | $3/month | Rule-based savings |
| Digit | Hands-off savers | $5/month | AI savings |
| Chime | Basic savers | Free | High-yield accounts |
| YNAB | Budget enthusiasts | $14.99/month | Comprehensive budgeting |
| Simple | Banking & saving | Free | Integrated tools |
| Albert | Hybrid solutions | $8/month | Financial advice |
| Trim | Cutting expenses | Free with fees | Subscription tracking |
| PocketGuard | Expense management | $4.99/month | Real-time insights |
| Round | Ethical investors | Fee-based | Curated portfolios |
Final Thoughts
Each of these apps serves a different purpose. Your choice should align with your financial goals, whether it’s budgeting, passive saving, or investing. Personally, I’ve found that pairing a budgeting app like YNAB with an investing app like Acorns creates a balanced approach. Whatever you choose, consistency is key.
I’d love to hear your experiences with these apps. Which ones do you swear by? Share your thoughts below.
